Steel Strips Wheels Ltd bags new export orders

Business for Steel Strips Wheels seems to be on a strong footing , as the company announced of receiving new export orders for over Rs 25 crore. Reacting to the news, the company’s stock is in green on Thursday despite a volatile stock market environment.  

The company has received orders for over 1,70,000 wheels from US & EU caravan trailer market, US mobile home and US Truck trailer market. The execution of the order is expected to be completed before July 21 at its plant located in Chennai (Tamil Nadu) and Dappar (Punjab).  

Steel Strips Wheels had previously reported of receiving export orders worth over Rs 42 crore or USD 5.7 million for the execution of around 4,00,000 wheels. Owing to a rise in the orders from similar customer base, the company has been witnessing continuous recovery in its business.  

Steel Strips Wheels Limited, operating in the automotive wheels segment is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. Its range of products include steel wheels and alloy wheels, which comprise steel wheels for two and three-wheelers, passenger cars, high speed trailers, trucks, trailers, tractors and off-road vehicles.  

On Thursday, the stock of the company was trading at Rs 710 per share, up by 2.39 per cent or Rs 16.60 per share. The 52-week high is Rs 776.10 while its 52-week low is Rs 317.35 on BSE.